SEBI’s consultation paper proposes new rules for derivatives on non-benchmark indices, outlining a phased approach to adjust constituent weights and ensure diversification.
Delhi High Court held that consideration for the resale/use of computer software through EULAs/distribution agreement is not Royalty for the use of copyright of the computer software and hence doesn’t give rise to any taxable income in India.
Punjab and Haryana High Court held that freezing of bank account by Enforcement Directorate [ED] without following procedure prescribed under section 17(1-A) of the Prevention of Money Laundering Act [PMLA] is unlawful. Accordingly, petition stands disposed of.
Due to severe floods in Maharashtra, MCTC has requested a three-day extension for the GSTR-3B filing deadline, citing hardships faced by taxpayers.
CESTAT Hyderabad held that section 17(4) of the Customs Act is not made for reopening or reviewing any issued final assessment order. Thus, adjudicating authority not empowered to review his final assessment order without statutory appeal.
Gauhati High Court observed that cancellation of GST registration u/s. 29(2)(c) of the CGST Act entails serious civil consequences. Hence, petitioner is given opportunity to furnish all the pending returns and accordingly, GST registration will be restored.
Bombay High Court held that anticipatory bail application in alleged customs duty evasion case allowed since the applicants have demonstrated their willingness to pursue the statutory remedy of compounding the alleged offence.
Madras High Court held that matter is to be remitted back for fresh orders on merits in view of non-filing of reply and non-attending personal hearing since petitioner has already deposited entire disputed tax for some period and petitioner is further directed to pay 15% of disputed tax for pending period.
Madras High Court held that Look Out Circular [LOC] of person accused in Enforcement Directorate [ED] case is kept in abeyance for specific period and the accused in permitted to travel abroad for undergoing medical treatment.
An overview of how to set up a Branch Office in India. Learn about the eligibility criteria, RBI approval process, and ongoing compliance requirements for foreign companies.
